My Fourth Property... My Fourth Property... What am I going to do? What’s my next investment? Previously, we talked through one option I’m familiar with: Single Family Homes. Now, let’s chat through another option I’m familiar with: Small Multi-Family (2-4 units). Having recently closed on a duplex (2 units), my goal in acquiring that asset class was to scale my portfolio and grow. And grow it I did...tripling my portfolio from a whopping 1 unit to 3 units hahaha! OK, that’s kind of a joke. But, it’s also true. Tripling your portfolio is an achievement, and if you view real estate as your path toward Financial Independence, you’ll most likely have to scale. Which is where the beauty of small multi-family comes in. Keep reading for the PROS and CONS of investing in Small Multi-Family properties! PROS
CONS
There are plenty of PROS and CONS to evaluate when buying a small multi-family. I'm personally starting to really understand the impact of scaling up and having more units under one roof. So the economies of scale are a huge benefit. But those PROS always come with CONS. Key Takeaways
-Tyler
2 Comments
7/24/2019 08:39:56 am
I thought it was nice that you mentioned with multi-family homes you can live in one unit while your tenants help pay your mortgage. I have been wondering what the benefits are to having and living in a multi-family home are. I would love to take a look at some multi-family home listings for sale and see what some good options for me are.
Reply
8/29/2019 11:30:43 am
Hi Thomas - that strategy is widely known as "house hacking."
Reply
Leave a Reply. |
Categories |
Investing |
Jump In |